Otis said it priced $600,000,000 aggregate principal amount of 5.125% Notes due 2031 on November 12, 2024. The Otis Notes mature on November 19, 2031 and are unsecured, unsubordinated obligations of the company.

1. 01

   Otis said it priced $600,000,000 aggregate principal amount of 5.125% Notes due 2031 on November 12, 2024. The Otis Notes mature on November 19, 2031 and are unsecured, unsubordinated obligations of the company.

2. 02

   The company said its indirect wholly owned consolidated subsidiary, Highland Holdings S.à r.l., priced €850 million aggregate principal amount of 2.875% Notes due 2027 on November 13, 2024, and that Otis fully and unconditionally guarantees the Highland Notes.

3. 03

   The company estimated the net proceeds from the Otis Notes at about $594.5 million and the net proceeds from the Highland Notes at about €842 million (about $902 million, based on the euro/U.S. dollar exchange rate as of November 8, 2024). It said both offerings are expected to close on November 19, 2024.

4. 04

   The company said it plans to use the net proceeds from both offerings, together with cash on hand, to repay the 2.056% notes due April 5, 2025 at maturity on April 5, 2025 ($1.3 billion principal amount currently outstanding). It said it intends to use any remaining Euro Offering proceeds to repay certain commercial paper borrowings and for other general corporate purposes.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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